Best of
Economics

1995

The Vision of the Anointed: Self-Congratulation as a Basis for Social Policy


Thomas Sowell - 1995
    Thomas Sowell sees what has happened not as a series of isolated mistakes but as a logical consequence of a vision whose defects have led to disasters in education, crime, family disintegration, and other social pathology. In this book, "politically correct" theory is repeatedly confronted with facts -- and sharp contradictions between the two are explained in terms of a whole set of self-congratulatory assumptions held by political and intellectual elites. These elites -- the anointed -- often consider themselves "thinking people," but much of what they call thinking turns out, on examination, to be rhetorical assertion, followed by evasions of mounting evidence against those assertions.

Race And Culture: A World View


Thomas Sowell - 1995
    Encompassing more than a decade of research around the globe, this book shows that cultural capital has far more impact than politics, prejudice, or genetics on the social and economic fates of minorities, nations, and civilization.

When Corporations Rule the World


David C. Korten - 1995
    Korten's warnings about the growing global power of multinational corporations seem prophetic today. This new edition has been revised throughout to make it more accessible to the general reader, and features a new introduction, a new epilogue, and three new chapters. While Korten points out that the multinationals are, if anything, more powerful now than they were when he first wrote the book, he also offers reason for hope: the growth of the international Living Democracy movement opposing corporate rule. The new material in the book: Documents the consolidation since 1995 of financial and corporate power at the expense of democracy, people, communities, and the planet Looks in depth at the nature and cultural underpinnings of the burgeoning Living Democracy movement to resist corporate power Offers a vision of a what a civil society grounded in life-centered values rather than immediate financial gain might look like.

Economic Thought Before Adam Smith


Murray N. Rothbard - 1995
    The scholastics, he argues, established and developed the subjective utility and scarcity theory of value, as well as the theory that prices, or the value of money, depend on its supply and demand. This continental, or 'pre-Austrian' tradition, was destroyed, rather than developed, by Adam Smith whose strong Calvinist tendencies towards glorifying labour, toil and thrift is contrasted with the emphasis in scholastic economic thought towards labour in the service of consumption.Tracing economic thought from the Greeks to the Scottish Enlightenment, this book is notable for its inclusion of all the important figures in each school of thought with their theories assessed in historical context. Classical Economics, the second volume of Professor Rothbard's history of economic thought from an Austrian perspective, is also available.

Modern Auditing: Assurance Services and the Integrity of Financial Reporting


William C. Boynton - 1995
    Auditing is perhaps our single best defense in ensuring the integrity of our financial reporting system. That's why this new Eighth Edition of Boynton and Johnson's Modern Auditing focuses on decision making and the critical role auditors play in providing assurance about the integrity of the financial reporting system. Known for its clear writing and accessibility, this text provides comprehensive and integrated coverage of current developments in the environment, standards, and methodology of auditing. Features * Real-world examples relate issues discussed in the chapter to ethics, audit decision making, and the integrity of the financial reporting system. * Focus on Audit Decisions sections highlight key factors that influence an auditor's decisions. * Includes discussion of the role of the Public Company Accounting Oversight Board (PCAOB) Auditing Standards, and a chapter feature highlights PCAOB standards that differ from Generally Accepted Auditing Standards for private companies. * Expanded case material related to the integrated audit case (Mt. Hood Furniture) provides a variety of databases that allow students to utilize generalized audit software (IDEA) to accomplish various audit tasks. Multiple databases allow the case to be reused with different data from term to term. * A flowchart style chapter preview begins each chapter. * Chapter summaries reinforce important audit decisions included in the chapter. * End-of-chapter material organized by audit decisions provides a clear link between audit decisions discussed in each chapter and the problem material.

Golden Rule: The Investment Theory of Party Competition and the Logic of Money-Driven Political Systems


Thomas Ferguson - 1995
    Although the role big money plays in defining political outcomes has long been obvious to ordinary Americans, most pundits and scholars have virtually dismissed this assumption. Even in light of skyrocketing campaign costs, the belief that major financial interests primarily determine who parties nominate and where they stand on the issues—that, in effect, Democrats and Republicans are merely the left and right wings of the "Property Party"—has been ignored by most political scientists. Offering evidence ranging from the nineteenth century to the 1994 mid-term elections, Golden Rule shows that voters are "right on the money."Thomas Ferguson breaks completely with traditional voter centered accounts of party politics. In its place he outlines an "investment approach," in which powerful investors, not unorganized voters, dominate campaigns and elections. Because businesses "invest" in political parties and their candidates, changes in industrial structures—between large firms and sectors—can alter the agenda of party politics and the shape of public policy.Golden Rule presents revised versions of widely read essays in which Ferguson advanced and tested his theory, including his seminal study of the role played by capital intensive multinationals and international financiers in the New Deal. The chapter "Studies in Money Driven Politics" brings this aspect of American politics into better focus, along with other studies of Federal Reserve policy making and campaign finance in the 1936 election. Ferguson analyzes how a changing world economy and other social developments broke up the New Deal system in our own time, through careful studies of the 1988 and 1992 elections. The essay on 1992 contains an extended analysis of the emergence of the Clinton coalition and Ross Perot's dramatic independent insurgency. A postscript on the 1994 elections demonstrates the controlling impact of money on several key campaigns.This controversial work by a theorist of money and politics in the U.S. relates to issues in campaign finance reform, PACs, policymaking, public financing, and how today's elections work.

Why Government Doesn't Work: How Reducing Government Will Bring Us Safer Cities, Better Schools, Lower Taxes, More Freedom, and Prosperity for All


Harry Browne - 1995
    And he demonstrates how much better off we'd be by making government much smaller. Most important, he provides a realistic blueprint for getting from where we are now to a small government and a freer, more prosperous society.

Do the Right Thing: The People's Economist Speaks


Walter E. Williams - 1995
    Williams (1936–2020) was the John M. Olin Distinguished Professor of Economics and chairman of the economics department at George Mason University, a nationally syndicated columnist, and the author of several books. This thought-provoking book contains nearly one hundred of Williams's most popular essays on race and sex, government, education, environment and health, law and society, international politics, and other controversial topics.

The Economic Laws of Scientific Research


Terence Kealey - 1995
    Terence Kealey argues that the free market approach rather than that of state funding has proved by far the most successful in stimulating science and innovation.

Making Economic Sense


Murray N. Rothbard - 1995
    Here he iscommunicating with the public about economic theory and policy. No economisthas ever written so clearly about subjects usually wrapped in mystery. Evenwhen discussing exchange rates, interest rates, and central banking,Rothbard is clear and persuasive. That's what makes this book so wonderful,and so dangerous to the purveyors of economic fallacy and those who enforcetheir ideas on the public. This wonderfully lucid work could become the nextEconomics in One Lesson. ABOUT THE AUTHOR:Murray N. Rothbard (1926-1995) distinguished himselfas an economist,writing a major treatise on theory, several important economic histories,and a highly praised history of economic thought. But he was also known asthe pioneer thinker of libertarianism, the political philosophy that rootsfreedom in private property ownership and decries the state as inherentlycontrary to the ethics of a free society. Writing from this perspective, hegained a reputation as the most provocative and influential contributor tothe anarchist tradition in our century.

Currency Forecasting: A Guide to Fundamental and Technical Models of Exchange Rate Determination


Michael R. Rosenberg - 1995
    Teaches you to decide when currencies are likely to rise or fall using analysis of balance of trade, purchasing power parity, et al. Explains the effect of interest rates, fiscal policies and central banks, and includes currency trading methods.

Selling Free Enterprise: The Business Assault on Labor and Liberalism, 1945-60


Elizabeth A. Fones-Wolf - 1995
    In Selling Free Enterprise, Elizabeth Fones-Wolf describes how conservative business leaders strove to reorient workers away from their loyalties to organized labor and government, teaching that prosperity could be achieved through reliance on individual initiative, increased productivity, and the protection of personal liberty. Based on research in a wide variety of business and labor sources, this detailed account shows how business permeated every aspect of American life, including factories, schools, churches, and community institutions.

The Best Way to Rob a Bank Is to Own One: How Corporate Executives and Politicians Looted the S&l Industry


William K. Black - 1995
    An expert insider's account of how financial super predators brought down an industry by massive accounting fraud.

Identification Problems Soc Science


Charles F. Manski - 1995
    The economist Charles Manski draws on examples from criminology, demography, epidemiology, social psychology, and sociology as well as economics to illustrate this language and to demonstrate the broad usefulness of the tools.There are many traditional ways to present identification problems in econometrics, sociology, and psychometrics. Some of these are primarily statistical in nature, using concepts such as flat likelihood functions and nondistinct parameter estimates. Manski's strategy is to divorce identification from purely statistical concepts and to present the logic of identification analysis in ways that are accessible to a wide audience in the social and behavioral sciences. In each case, problems are motivated by real examples with real policy importance, the mathematics is kept to a minimum, and the deductions on identifiability are derived giving fresh insights.Manski begins with the conceptual problem of extrapolating predictions from one population to some new population or to the future. He then analyzes in depth the fundamental selection problem that arises whenever a scientist tries to predict the effects of treatments on outcomes. He carefully specifies assumptions and develops his nonparametric methods of bounding predictions. Manski shows how these tools should be used to investigate common problems such as predicting the effect of family structure on children's outcomes and the effect of policing on crime rates.Successive chapters deal with topics ranging from the use of experiments to evaluate social programs, to the use of case-control sampling by epidemiologists studying the association of risk factors and disease, to the use of intentions data by demographers seeking to predict future fertility. The book closes by examining two central identification problems in the analysis of social interactions: the classical simultaneity problem of econometrics and the reflection problem faced in analyses of neighborhood and contextual effects.

Economic Science and the Austrian Method


Hans-Hermann Hoppe - 1995
    Hans-Hermann Hoppe rests his argument on the Kantian idea of the "synthetic apriori" proposition, thereby expanding an aim of Mises's in the methodology section of Human Action.Hoppe is the Austrian School's most prominent methodologist, and here he is in top form. He combines a rigorous scientific explanation with fantastic passion and rhetoric.These lectures astonished students at the Mises University when they were first delivered. They were later turned into this monograph, which has been a staple of Austrian pedagogy ever since.

Microeconomic Theory


Andreu Mas-Colell - 1995
    Masterfully combining the results of years of teaching microeconomics at Harvard University, Andreu Mas-Colell, Michael Whinston, and Jerry Green have filled that conspicuous vacancy with their groundbreaking text, Microeconomic Theory.The authors set out to create a solid organizational foundation upon which to build the effective teaching tool for microeconomic theory. The result presents unprecedented depth of coverage in all the essential topics, while allowing professors to tailor-make their course to suit personal priorities and style. Topics such as noncooperative game theory, information economics, mechanism design, and general equilibrium under uncertainty receive the attention that reflects their stature within the discipline. The authors devote an entire section to game theory alone, making it free-standing to allow instructors to return to it throughout the course when convenient. Discussion is clear, accessible, and engaging, enabling the student to gradually acquire confidence as well as proficiency. Extensive exercises within each chapter help students to hone their skills, while the text's appendix of terms, fully cross-referenced throughout the previous five sections, offers an accessible guide to the subject matter's terminology. Teachers of microeconomics need no longer rely upon scattered lecture notes to supplement their textbooks. Deftly written by three of the field's most influential scholars, Microeconomic Theory brings the readability, comprehensiveness, and versatility to the first-year graduate classroom that has long been missing.

Paper and Iron: Hamburg Business and German Politics in the Era of Inflation, 1897 1927


Niall Ferguson - 1995
    Niall Ferguson takes a different view. He argues that inflation was an economic and political disaster, and that alternative economic policies could have stabilized the German currency in 1920. To explain why these were not adopted, he points to long-term defects in the political institutions of the Reich from the 1890s. The book therefore not only reveals the Wilhelmine origins of Weimar's failure: it also casts new light on the origins of the Third Reich.

Financial Institutions, Investments, & Management: An Introduction


Herbert B. Mayo - 1995
    The book discusses financial institutions and their roles in helping to allocate savings in the economy, along with a description and analysis of securities issued and traded in money and capital markets. The book covers fundamentals of investing in stocks, mutual funds, derivatives, and other marketable securities with an emphasis on securities markets, mechanics of trading, techniques of analysis, diversification, and valuation of assets. Finally, the book lays out the processes, decisions structures, and institutional arrangements concerned with the use and acquisition of funds by a firm. This will include the management of the asset and liability structure of the firm under certain and risky situations.

Contra Keynes and Cambridge: Essays, Correspondence


Friedrich A. Hayek - 1995
    F. A. Hayek challenged one of the world's leading economists, John Maynard Keynes, and his economic theories, which sparked a spirited debate that has influenced economic policy in democractic countries for decades.F. A. Hayek (1899–1992) was awarded the Nobel Memorial Prize in Economic Sciences in 1974 and the Medal of Freedom in 1991 and was one of the leading Austrian economists and political philosophers of the twentieth century.Bruce Caldwell is Professor of Economics and the Director of the Center for the History of Political Economy at Duke University. He is the current General Editor of The Collected Works of F. A. Hayek.

Econometric Analysis of Panel Data


Badi H. Baltagi - 1995
    The book is packed with the most recent empirical examples from panel data literature, for example, a simultaneous equation on Crime will be added to chapter 7, which will be illustrated with STATA. Data sets will be provided as well as the programs to implement the estimation and testing procedures described in the book on the web site. Additional exercises will be added to each chapter and their solutions will be provided on the web site. The text has also been fully updated with new material on dynamic panel data models and recent results on non-linear panel models and in particular work on limited dependent variables panel data models.

Doing Business God's Way


Dennis Peacocke - 1995
    Dennis Peacocke draws out twelve principles of managment, growth, and productivity that can bring lasting change into the life and culture of all who apply them.

The Seven Fat Years


Robert L. Bartley - 1995
    Bartley's book defines the conservative view on this still-contentious issue, maintaining that only a return to the greedy policies of the Reagan years will guarantee America's prosperity in the future.

Buddhism in Chinese Society: An Economic History from the Fifth to the Tenth Centuries


Jacques Gernet - 1995
    First published in French in 1956, this classic work integrates the study of Buddhist doctrine with that of Chinese society from the fifth to the tenth centuries.

Myth and Measurement: The New Economics of the Minimum Wage


David Card - 1995
    Krueger have already made national news with their pathbreaking research on the minimum wage. Here they present a powerful new challenge to the conventional view that higher minimum wages reduce jobs for low-wage workers. In a work that has important implications for public policy as well as for the direction of economic research, the authors put standard economic theory to the test, using data from a series of recent episodes, including the 1992 increase in New Jersey's minimum wage, the 1988 rise in California's minimum wage, and the 1990-91 increases in the federal minimum wage. In each case they present a battery of evidence showing that increases in the minimum wage lead to increases in pay, but no loss in jobs.A distinctive feature of Card and Krueger's research is the use of empirical methods borrowed from the natural sciences, including comparisons between the treatment and control groups formed when the minimum wage rises for some workers but not for others. In addition, the authors critically reexamine the previous literature on the minimum wage and find that it, too, lacks support for the claim that a higher minimum wage cuts jobs. Finally, the effects of the minimum wage on family earnings, poverty outcomes, and the stock market valuation of low-wage employers are documented. Overall, this book calls into question the standard model of the labor market that has dominated economists' thinking on the minimum wage. In addition, it will shift the terms of the debate on the minimum wage in Washington and in state legislatures throughout the country.

Does Conquest Pay?: The Exploitation of Occupied Industrial Societies


Peter Liberman - 1995
    The resurgence of nationalism has led many policymakers and scholars to doubt that conquest still pays. But, until now, the cumulativity of industrial resources has never been subjected to systematic analysis. Does Conquest Pay? demonstrates that expansion can, in fact, provide rewards to aggressor nations. Peter Liberman argues that invaders can exploit industrial societies for short periods of time and can maintain control and economic performance over the long term. This is because modern societies are uniquely vulnerable to coercion and repression. Hence, by wielding a gun in one hand and offering food with the other, determined conquerors can compel collaboration and suppress resistance. Liberman's argument is supported by several historical case studies: Germany's capture of Belgium and Luxembourg during World War I and of nearly all of Europe during World War II; France's seizure of the Ruhr in 1923-24; the Japanese Empire during 1910-45; and Soviet hegemony over Eastern Europe in 1945-89. Does Conquest Pay? suggests that the international system is more war-prone than many optimists claim. Liberman's findings also contribute to debates about the stability of empires and other authoritarian regimes, the effectiveness of national resistance strategies, and the sources of rebellious collective action.

The End of Laissez-Faire. The Economic Consequences of the Peace


John Maynard Keynes - 1995
    During both world wars he was an adviser to the British treasury, and his theory of government stimulation of the economy through deficit spending influenced Franklin D. Roosevelt's "New Deal" administration. The mass unemployment caused by the Great Depression inspired his most famous work, General Theory of Employment, Interest and Money (1935-36).Keynes first gained widespread prominence immediately following World War I, when he attended the Versailles peace conference as an economic adviser to British Prime Minister David Lloyd George. Disgusted with the harshly punitive and unrealistic provisions of the Versailles Treaty, as well as the political chicanery and general incompetence of the chief participants, he published The Economic Consequences of the Peace in 1919. This book gained a good deal of notoriety because of its withering portraits of both French premier Georges Clemenceau and U.S. President Woodrow Wilson. Keynes described Clemenceau as motivated only by shortsighted nationalistic goals and vindictiveness, which aimed at crippling Germany for generations no matter what the consequences to the rest of Europe. He found fault with Wilson for his ivory tower idealism, lack of diplomatic savvy, and unfamiliarity with the political realities of Europe. This ineffectual combination ultimately dashed his best hopes for a League of Nations and a just resolution to the war in Europe. In a point-by-point analysis Keynes makes clear the ruinous consequences of the treaty to all of Europe and proposes substantial modifications. Unfortunately, few appreciated Keynes’s prescience, and he saw his worst fears realized in the rise of Hitler and the devastation of World War II.In The End of Laissez-Faire (1926) he presents a brief historical review of laissez-faire economic policy. Though he agrees in principle that a marketplace of free individuals pursuing their own self-interest without government interference has a better chance of improving society’s economic situation than socialist alternatives, he suggests that government can play a constructive role in protecting individuals from the worst harms of capitalism’s cycles, especially as concerns unemployment. Other useful government functions are the dissemination of information relating to business conditions, encouraging savings and investment along "nationally productive channels," and forming a national policy about the size of population.Keynes’s brilliant mind and lucid writing are evident on every page. Both of these works are still well worth reading for his many stimulating ideas and profound knowledge of economics.

Tax Racket


Martin L. Gross - 1995
    Gross alerted the nation to government waste, corruption, and the shocking squandering of public funds. But an even deeper and more pervasive problem is crippling America's economy and undermining our nation's strength: excessive and unfair taxes. Through spiraling federal, state, and local taxes, our government is literally robbing us blind right under our noses--and it's time we opened our eyes to the truth. In comprehensive chapters from A to Z (Audits to Zoning), The Tax Racket exposes exactly what's wrong with our present tax system, including:Taxpayer Rights? You don't have many. The Constitution supposedly protects us against search and seizure of our papers and property, but the IRS couldn't care less.Airline and Airport Taxes--these federal taxes on every plane flight are not only kept secret from you, but much of these billions that go into Washington's general slush fund are not even used for better air travel.X-tortion Oddities--our governments levy taxes for all sorts of things you've never heard of--from "mall taxes" to "use taxes" to "snack taxes" to 66 "excise taxes"--but you pay them anyway.Earned Income Tax Credit--this program, billed as an aid to the working poor, is actually the biggest fiscal assault ever launched on the beleaguered American middle class.Social Security--the more the government hauls in your FICA taxes, the faster it spends that money on everything else, from welfare to farm subsidies to the President's salary. The result? Social Security will be bankrupt when the baby boomers retire.But it doesn't have to be this way. The Tax Racket lays out a clear and workable plan to fix it--by abolishing all federal, state, and city income taxes and replacing them with a fair and equitable national sales tax that will reduce the tax burden on everyone. Nothing gets American citizens angrier than the excessive and overlapping taxes forced down their throats. This honest, eye-opening book is a call to arms to bust the tax racket before it breaks the backbone of our nation.It's time to say goodbye to filing, penalties, interest, audits, and fear!STOP TAKING OUR MONEY!

Reflections on Leadership: How Robert K. Greenleaf's Theory of Servant-Leadership Influenced Today's Top Management Thinkers


Larry C. Spears - 1995
    Despite a virtual tidal wave of books on leadership during the last few years, there is something different about Bob Greenleaf's essay, something both simpler and more profound . . . For many years, I simply told people not to waste their time reading all the other managerial leadership books. 'If you are really serious about the deeper territory of true leadership, ' I would say, 'read Greenleaf.' " --from Chapter 20 by Peter M. Senge, Director of the Center for Organizational Learning at MIT's Sloan School of Management and author of The Fifth Discipline: The Art and Practice of the Learning Organization "There is a building momentum for enlightened leadership in the for-profit world, the social sector, and many areas of government today . . . Good books that deal with the beliefs and convictions that nurture this movement are not easy to find. This is one. Reflections on Leadership is a worthy and worthwhile gift to all those who attach high value both to their responsibilities and to the people with whom they work." --from the Foreword, by Max DePree, Chairman and CEO of Herman Miller Inc. and author of Leadership Is an Art and Leadership Jazz "I could give you three examples of major businesses who have used this business of servant-leadership training . . . at times of terrible crisis and have worked themselves out of the crisis. Practicing servant-leadership . . . had absolutely enormous incredible benefits for them . . . and then they threw it away. Because, as soon as the crisis passed, they said 'why exert ourselves?' The great problem is not how to . . . teach servant-leadership in the first place, but to get organizations to continue to use it and embed it in part of their culture." --from Chapter 7 by M. Scott Peck, author of The Road Less Traveled"Reflections on Leadership is fitting tribute to a man whose own sense of service has given all of us hope that at long last leaders will recognize that power of purpose is far stronger than power of position. After nearly 30 years, Robert K. Greenleaf's work has struck a resonant chord in the minds and hearts of scholars and practitioners alike. His message lives through others, the true legacy of a servant-leader." --Jim Kouzes, Chairman and CEO of TPG/Learning Systems and coauthor of The Leadership Challenge and Credibility"We are each indebted to Greenleaf for bringing spirit and values into the workplace. His ideas will have enduring value for every generation of leaders." --Peter Block, Founding Partner, Designed Learning Inc. and author of The Empowered Manager, Flawless Consulting, and Stewardship: Choosing Service Over Self-InterestIn the twenty-five years since Robert K. Greenleaf first articulated his vision of "servant-leadership," the world has seen a steady expansion in the influence of the man and his ideas. Hailed as the "grandfather" of the modern empowerment movement in business leadership, Greenleaf described true leaders as those who lead by serving others --empowering them to reach their full potential. He saw the ideal leader as one who transforms and integrates an organization; a steward with a commitment to the growth of people and the building of a community.Reflections on Leadership demonstrates the scope of Greenleaf's impact on contemporary management theory and offers key essays by Greenleaf and his leading business and intellectual disciples. They include such influential thinkers as M. Scott Peck, author of The Road Less Traveled, and Peter Senge, author of The Fifth Discipline."Despite all the buzz about modern leadership techniques, no one knows better than Greenleaf what really matters." --Working Woman magazineReflections on Leadership opens with two remarkable essays by Greenleaf himself. One of them, "Reflections from Experience," published here for the first time, presents Greenleaf's prophetic observations on the use of executive power in an organization. In "Life's Choices and Markers," Greenleaf recounts five significant influences that led him to develop his revolutionary ideas on the nature of leadership."Servant-leadership deals with the reality of power in everyday life--its legitimacy, the ethical restraints upon it and the beneficial results that can be attained through the appropriate use of power." --The New York TimesIn Reflections on Leadership, a host of notable management thinkers explore the implications of the servant-leadership concept in such areas as:Business ethics Team-building and servant-leadership Corporate risk-taking Spirit in the workplace Becoming a servant-leader The future of leadership For those who have already benefited from Greenleaf's ideas and wish to deepen their understanding, this is an essential book. It is also the ideal introduction for those eager to draw on a source of wisdom that has inspired so many others.

Simple Rules for a Complex World


Richard A. Epstein - 1995
    Countless pundits insist that any call for legal simplification smacks of nostalgia, sentimentality, or naivetE. But the conventional view, the noted legal scholar Richard Epstein tells us, has it exactly backward. The richer texture of modern society allows for more individual freedom and choice. And it allows us to organize a comprehensive legal order capable of meeting the technological and social challenges of today on the basis of just six core principles. In this book, Epstein demonstrates how.The first four rules, which regulate human interactions in ordinary social life, concern the autonomy of the individual, property, contract, and tort. Taken together these rules establish and protect consistent entitlements over all resources, both human and natural. These rules are backstopped by two more rules that permit forced exchanges on payment of just compensation when private or public necessity so dictates. Epstein then uses these six building blocks to clarify many intractable problems in the modern legal landscape. His discussion of employment contracts explains the hidden virtues of contracts at will and exposes the crippling weaknesses of laws regarding collective bargaining, unjust dismissal, employer discrimination, and comparable worth. And his analysis shows how laws governing liability for products and professional services, corporate transactions, and environmental protection have generated unnecessary social strife and economic dislocation by violating these basic principles.Simple Rules for a Complex World offers a sophisticated agenda for comprehensive social reform that undoes much of the mischief of the modern regulatory state. At a time when most Americans have come to distrust and fear government at all levels, Epstein shows how a consistent application of economic and political theory allows us to steer a middle path between too much and too little.

World Economic Primacy: 1500-1990


Charles P. Kindleberger - 1995
    Extending over broad ranges of both history and geography, the work considers what it is that enables countries to achieve, at some period in their history, economic superiority over other countries, and what it is that makes them decline.Kindleberger begins with the Italian city-states in the fourteenth century, and traces the changing evolution of world economic primacy as it moves to Portugal and Spain, to the Low countries, to Great Britain, and to the United States, addressing the question of alleged U.S. decline. Additional chapters treat France as a perennial challenger, Germany which has twice aggressively sought superiority, and Japan, which may or may not become a candidate for the role of number one. Kindleberger suggests that the economic vitality of a given country goes through a trajectory that can usefully (thought not precisely) be compared to a human life cycle. Like human beings, the growth of a state can be cut off by accident or catastrophe short of old age; unlike human beings, however, economies can have a second birth. In World Economic Primacy, Kindleberger takes into account the influence of complex historical, social, and cultural factors that determine economic leadership. A brilliant overview of the position of nations in the world economy, World Economic Primacy conveys profound insights into the causes of the rise and decline of the world's economic powers, past and present.

Econometric Models, Techniques, and Applications


Michael D. Intriligator - 1995
    KEY TOPICS: It focuses on those aspects of econometrics that are of major importance to readers and researchers interested in performing, evaluating, or understanding econometric studies in a variety of areas. It reviews matrix notation and the use of multivariate statistics; discusses the specification of the model and the development of data for its estimation; covers recent developments in econometric models, techniques, and applications; explains the estimation of single-equation models; and provides case studies of the applications of econometrics to a wide array of areas -- including traditional areas such as the estimation of demand functions and production functions, and macroeconometric models.

Politics on the Endless Frontier: Postwar Research Policy in the United States


Daniel Lee Kleinman - 1995
    government support science and technology? How do the legacies and institutions of the past constrain current efforts to restructure federal research policy? Not since the end of World War II have these questions been so pressing, as scientists and policymakers debate anew the desirability and purpose of a federal agenda for funding research. Probing the values that have become embodied in the postwar federal research establishment, Politics on the Endless Frontier clarifies the terms of these debates and reveals what is at stake in attempts to reorganize that establishment.Although it ended up as only one among a host of federal research policymaking agencies, the National Science Foundation was originally conceived as central to the federal research policymaking system. Kleinman’s historical examination of the National Science Foundation exposes the sociological and political workings of the system, particularly the way in which a small group of elite scientists shaped the policymaking process and defined the foundation’s structure and future. Beginning with Vannevar Bush’s 1945 manifesto The Endless Frontier, Kleinman explores elite and populist visions for a postwar research policy agency and shows how the structure of the American state led to the establishment of a fragmented and uncoordinated system for federal research policymaking. His book concludes with an analysis of recent efforts to reorient research policy and to remake federal policymaking institutions in light of the current "crisis" of economic competitiveness. A particularly timely study, Politics on the Endless Frontier will be of interest to historians and sociologists of science and technology and to science policy analysts.

Triumph of the Market: Essays on Economics, Politics, and the Media


Edward S. Herman - 1995
    Herman shows how the "triumph" of the market in the post-Cold War world order means the further commodifications of culture, atrophying of political debate and political options, greater subservience of the media to state and corporate interests, and global polarization of income, wealth, and power.

Handbook of Mathematical Formulas and Integrals


Alan Jeffrey - 1995
    It covers important formulas, relations, and methods from algebra, triginometric and exponential functions, combinatorics, probability, matrix theory, calculus and vector calculus, both ordinary and partial differential equations, Fourier series, orthogonal polynomials, and Laplace transforms. Many of the entries are based upon the updated fifth edition of Gradshteyn and Ryzhik's Table of Integrals, Series, and Products, though results are also taken from various other reference works.

Barriers to Conflict Resolution


Kenneth J. Arrow - 1995
    When does it pay for parties to a dispute to cooperate, and when to compete? How can third-party negotiators further resolutions and avoid the pitfalls that deepen the division between antagonists? Offering answers to these and related questions, this book is a comprehensive guide to the latest understanding of ways to resolve human conflict.

World Mental Health: Problems and Priorities in Low-Income Countries


Robert Desjarlais - 1995
    It identifies opportunities for effective mental health interventions, methods of treatment, culturally appropriate prevention programs, and sound policy formation. It relates the mental health consequences of violence, dislocation, poverty, and the disenfranchisement of women to the most pressing economic, political, and environmental problems of our time.

The Caddo Indians: Tribes at the Convergence of Empires, 1542-1854


F. Todd Smith - 1995
    That encounter marked a turning point for this centuries-old people, whose history from then on would be dominated by the interaction of the native confederacies with the empires of various European adventurers and settlers.Much has been written about the confrontations of Euro-Americans with Native Americans, but most of it has focused on the Anglo-Indian relations of the eastern part of the continent or on the final phases of the western wars. This thorough and engaging history is the first to focus intensively on the Caddos of the Texas-Louisiana border area. Primarily from the perspective of the Caddos themselves, it traces the development and effect of relations over the three hundred years from the first meeting with the Spaniards until the resettlement of the tribes on the Brazos Reserve in 1854.In an impressive work of scholarship and lucid writing, F. Todd Smith chronicles all three of the Caddo confederacies–Kadohadacho, Hasinai, and Natchitoches–as they consolidated into a single tribe to face the waves of soldiers, traders, and settlers from the empires of Spain, France, the United States, Mexico, and the Republic of Texas. It describes the delicate balance the Caddos struck with the various nations claiming the region and how that gradually evolved into a less beneficial relationship. Caught in the squeeze between Euro-American nations, the Caddos eventually sacrificed their independence and much of their culture to gain the benefits offered by the invaders. Falling victim to swindlers, they at last lost their lands and were moved to a reservation. This intriguing new view of a little-known aspect of history will fascinate those interested in the culture and fate of American Indians. Thorough in its research and comprehensive in scope, it offers valuable insight into the differing approaches of the various European and American nations to the native peoples and a compelling understanding of the futility of the efforts of even some of the most sophisticated tribes in coping successfully with the changes wrought.

The Essence of Becker


Ramon Febrero - 1995
    Becker the Nobel Prize in Economic Sciences in 1992.

Kesenjangan Buruh Majikan: Pengusaha, Koeli, dan Penguasa : Industri Timah Belitung, 1852-1940


Erwiza Erman - 1995
    History of labor-management relations between the Billiton Maatschappij, a Dutch tin mining company and its Chinese imigrant laborers on Belitung Island, Sumatera Selatan Province, 1852-1940.

Man and Money: Towards an Alternative Basis of Credit


Shaikh Mahmud Ahmad - 1995
    The product of a lifetime's work, the book points the way toward a market economy without exploitation, where liberty and social justice can coexist.

Post Keynesian Price Theory


Frederic S. Lee - 1995
    Frederic Lee examines the administered, normal cost and mark up price doctrines associated with Post Keynesian economics; he then draws upon those doctrines and previous empirical studies to develop the pricing and production foundations of the theory. This is the only book that is solely concerned with Post Keynesian price theory and its foundations, and represents a major contributon to the literature of post-Keynesian economics.

Dynamic Econometrics


David F. Hendry - 1995
    The primary aim of this book is to develop an operational econometric approach which allows constructive modelling. Professor Hendry deals with methodological issues (model discovery, data mining, and progressive research strategies); with major tools for modelling (recursive methods, encompassing, super exogeneity, invariance tests); and with practical problems (collinearity, heteroscedasticity, and measurement errors). He also includes an extensive study of US money demand. The book is self-contained, with the technical background covered in appendices. It is thus suitable for first year graduate students, and includes solved examples and exercises to facilitate its use in teaching.About the Series Advanced Texts in Econometrics is a distinguished and rapidly expanding series in which leading econometricians assess recent developments in such areas as stochastic probability, panel and time series data analysis, modeling, and cointegration. In both hardback and affordable paperback, each volume explains the nature and applicability of a topic in greater depth than possible in introductory textbooks or single journal articles. Each definitive work is formatted to be as accessible and convenient for those who are not familiar with the detailed primary literature.

People's Century:: The Ordinary Men and Women Who Made the Twentieth Century


Godfrey Hodgson - 1995
    It tells a tale of ten tumultuous decades - not from the towering vantage point of princes and presidents but from the modest perspective of ordinary people who found themselves swept up in dramatic events of historic proportions. Thousands of personal recollections have been blended into a powerful narrative and enhanced by photographs, vivid illustrations, and detailed maps. "People's Century" is an illuminating and unforgettable saga of the great triumphs and tragedies of humankind in the twilight of a millennium.

The Economics Of Modernization (Singapore Economics History Collection)


Keng Swee Goh - 1995
    Dr. Goh Keng Swee's speeches were made over the period 1959-71, a climacteric in the history of not only Singapore, but also the developing countries of Asia. Singapore's experience, despite its unique circumstances, may provide useful pointers to others.

The Economic Sociology of Immigration: Essays on Networks, Ethnicity, and Entrepreneurship


Alejandro Portes - 1995
    Alejandro Portes's overview of sociological approaches to economic phenomena provides the framework for six wide-ranging investigations into ethnic and immigrant labor networks and social resources, entrepreneurship, and cultural assimilation. Mark Granovetter illustrates how small businesses built on the supposedly archaic bonds of ethnicity and kinship can not only survive in a modern economy but, under certain conditions, flourish remarkably well. Bryan R. Roberts demonstrates how immigrant groups' expectations of the duration of their stay influence their propensity toward entrepreneurship. Ivan Light and Carolyn Rosenstein chart how specific metropolitan environments have stimulated or impeded entrepreneurial ventures in five ethnic populations. Saskia Sassen provides a revealing analysis of the unexpectedly flexible labor market networks maintained between immigrants and their native countries, while M. Patricia Fernandez Kelly looks specifically at the black inner city to examine how insular cultural values - particularly views on adolescent pregnancy - hinder the acquisition of skills and jobs outside the neighborhood. Alejandro Portes also discusses cultural maladaptation in the inner city, depicting the clash between the attitudes of American-born youths and those of recent immigrants, and its effects on the economic success of immigrant children.

Project Financing


Frank J. Fabozzi - 1995
    This edition still covers the key criteria for success: choosing financial advisors and banks, types and sources of equity and debt, financial instruments, lease versus purchase, commercial paper, swaps and interest rate futures, and political risk and guarantees. In addition, all data has been updated, including new bank league tables. New sections include: countries which have set up project financing departments, a revision of the section on credit risk appraisal to reflect the latest credit ratings of all the recognised rating agencies, discussion of the risk-based capital requirements for banks, an extensive update on the latest instruments used in the global market, analysis of Rule 144A in the US and its implications for project financing and revisions of all tax and legal regulations.

The New Economics of Human Behaviour


Mariano Tommasi - 1995
    Pioneered by Gary Becker, this approach asserts that all actions, whether working, playing, dating, or mating, have economic motivations and consequences, and can be analyzed using economic reasoning. Intended as an introduction to the current state of the field, the essays are informal and nontechnical, while still using up-to-date economic reasoning to illuminate such topics as crime, marriage, discrimination, immigration, fads and fashions.

Global Capital, National State, And The Politics Of Money


Werner Bonefeld - 1995
    However, discussion of the politics of money has focused on Latin American and 'third' world countries. So far there has been little treatment of the politics of scarce money and of money as a political category in relation to 'advanced' countries. The central theme of the book is the limitations and constraints on state action which arise from the relation between the (nation) state and the global flow of money.

Staples, Markets, and Cultural Change: Selected Essays


Harold A. Innis - 1995
    The essays in this collection address a variety of themes, including the rise of industrialism and the expansion of international markets, staples trades, critical factors in Canadian development, metropolitanism and nationality, the problems of adjustment, the political economy of communications, the economics of cultural change, and Innis's conception of the role of the intellectual as citizen. Innis succeeded as few others have in providing an astute and comprehensive account of the economic and social forces shaping modernity. His abiding interest in the contradictory and unintended consequences of markets in general - the dominant structure of modern economic activity - gave rise to the rich legacy of his prodigious output.

Delusions of Development: The World Bank and the Post-Washington Consensus in Southeast Asia


Toby Carroll - 1995
    This book looks at this subject using case studies drawn from Southeast Asia, one of the world's most diverse regions.

Political Economy For Socialism


Makoto Itoh - 1995
    The author explores afresh the origins and the character of the various components of the broad current of socialist thought, and reconsiders the implications which Marx's economic theories have for socialism. The Western debate on the rationality of a socialist economy, which started in the 1920s and continues to the present, is reviewed and reassessed. The book further inquires into the nature, the achievements and the systemic change in the socialist economies of the Soviet Union, Eastern Europe and China. The author bases his views on these issues on the approach of the Japanese Uno School, as he also did in his previous contributions to Marxist economic theories. The message of the book is that there exists a broad range of future socialist alternatives, and the people of each society can choose flexibly among them.

Investments


Z. Bodie - 1995
    Pricing and trading are covered, and these concepts are then applied to portfolio planning in real-world securities markets governed by risk/return relationships. The text balances theoretical and real-world applications in order to help students understand investment theory and portfolio development. This edition includes expanded coverage of of derivatives as effective risk management tools, a new section on the global economy, and consideration of international accounting issues and exotic options. In addition, market microstructure coverage has been expanded to include NASDAQ trading practices controversy.

High Inflation: The Arne Ryde Memorial Lectures


Daniel Heymann - 1995
    The authors argue that a better grasp of high inflation processes is necessary in order for countries intricated in it to design stabilization strategies. The extremes of monetary instability can also give a clearer picture of the purpose that money and financial institutions serve under more normal circumstances, thus deepening our understanding of the benefits of monetary stability. This study will be of interest to scholars of macroeconomics, economic theorists and applied economists.

The Federal Reserve Conspiracy


Antony C. Sutton - 1995
    This is the first book that details hour by hour the events that led up to passage of the Federal Reserve Act of 1913 - and the many decades of work and secret planning that private bankers had invested to obtain their money monopoly.

Capitalism Russian-Style


Thane Gustafson - 1995
    It describes Russian achievements in building private banks, companies, stock exchanges, new laws and law courts. It analyzes the role of the mafia, the new financial empires, entrepreneurs, business tycoons, and the shrinking Russian state. Thane Gustafson tells how the Soviet system was dismantled and the new market society was born, and examines the prospects for a Russian economic miracle in the twenty-first century.

Why Not Freedom!: America's Revolt Against Big Government


James Ronald Kennedy - 1995
    In spite of the separation of powers established by the Constitution, many of our current laws are written by bureaucrats, administered by them, and finally judged by them-yet they are in opposition to those freedoms set forth by the Constitution. The book details the historical development of the federal government. It describes how the American middle class has been abandoned by those who control the federal government. Career insiders, since the days of Franklin D. Roosevelt, have used their influence and power to promote their love of big, tax-and-spend, centralized government and a radical social ideology, while providing high-paying taxpayer-funded jobs for themselves. Further chapters outline the loss of inalienable rights in so many areas of life. Twenty-four examples of constitutional usurpation are thoroughly explored. Finally, techniques are suggested whereby citizens can organize to restore the freedoms originally guaranteed by the Constitution. James Ronald Kennedy was elected as commander for the Louisiana division of the Sons of Confederate Veterans for the years 1989-92 and regularly participates in Civil War re-enactments. Walter Donald Kennedy is the recipient of the Distinguished Service Medal of the National Sons of Confederate Veterans. Their other books are The South Was Right! and Was Jefferson Davis Right?, both published by Pelican.

Principles Of Economics


Fred M. Gottheil - 1995
    Award-winning educator and author Fred Gottheil speaks directly to student experience through a conversational writing style and narrative that uses stories, familiar examples, engaging scenarios, and relevant examples from literature emphasizing that economic principles can be found in all aspects of modern life. The text focuses on the key questions and presents the basic concepts-developing economic analysis step-by-step. The result is a more interactive and enjoyable learning experience when compared to the pedantic approaches often found in texts. Each chapter in the sixth edition has been thoroughly revised to reflect the most relevant data and also emerging and critical issues such as economic bubbles, the sub-prime housing fiasco, immigration, and the failed economies of the bottom billion of our world population. We invite you to see for yourself how Fred Gottheil's approach will help to shorten the distance between students and the exciting study of economics.

The Body in Late-Capitalist USA


Donald M. Lowe - 1995
    Lowe explores the varied social practices that code and construct the body. Arguing that our bodily lives are shaped by a complex of daily and ongoing practices—how we work, what we buy and consume—Lowe contends that as a result of the commodification of these and other social practices in the late-twentieth century, what we often understand to be the needs of the body are in fact means for capital accumulation.Moving beyond studies of representations and images of the body, Lowe focuses on the intersection of body practices, language, and the Social to describe concretely the reality of a lived body. His strongly synthetic work brings together Marxist critique, semiotics, Foucaultian discourse analysis, and systems and communications theory to examine those practices that construct the body under late capitalism: habits of work and consumption, the ways we give birth and raise children, socialization, mental and physical healing, reconstructions and contestations of sexuality and gender. Lowe draws upon a wide range of sources, including government and labor studies and statistics, diagnostic and statistical manuals on mental illness, computer manuals, self-help books, and guides to work-related stress disorders, to illustrate the transformation of the body into a nexus of exchange value in postmodern society.

Environmental Accounting: Emergy and Environmental Decision Making


Howard T. Odum - 1995
    Odum, widely acknowledged asthe father of systems ecology, lucidly explains his concept ofemergy, a measure of real wealth that provides a rational, science-based method of evaluating commodities, services, andenvironmental goods. Using specific real-world examples, Dr. Odumclearly demonstrates the revolutionary role of emergy inenvironmental management and policy making.Environmental Accounting: Emergy and Environmental Decision Makingoffers environmental professionals--policymakers, managers, ecologists, planners, developers, and activists--a systematicapproach to environmental and economic valuation that willeliminate much of the rancor and adversarial decision making thatoften plagues environmental issues. Specifically, this book: * Describes the theoretical basis, calculation procedures, andapplications of emergy * Introduces the concept of transformity, the ratio of emergy(work put into a product) and energy (value received from theproduct) * Provides formulas for emergy calculations, procedures for makingan emergy evaluation table, and parameters for updating evaluations * Demonstrates the use of emergy to evaluate environments, minerals, waters, primary energy sources, economic developments, and international trade * Compares the emergy approach to environmental evaluation withothersEnvironmental Accounting: Emergy and Environmental Decision Makingwill help environmental decision makers and the society they servemaximize economic vitality with less trial and error, innovate withfewer failures, and adapt to change more rapidly. It provides thetools they need to arrive at the best policies in resourcemanagement, economics, and the environment.Balancing the economy and the environment-- from the father ofsystems ecologyIncreasing economic dependence on diminishing natural resources hassparked a highly charged debate over the use and fate of the worldenvironment. Environmental Accounting: Emergy and EnvironmentalDecision Making presents a unique method of environmentalmanagement based on maximizing real wealth, the whole economy, andthe public benefit.Renowned ecologist Howard T. Odum introduces the concept of emergyto provide a rational alternative to the tug-of-war over theworld's most vital assets. Emergy measures the energy put intomaking a product and is the cornerstone of Odum's revolutionarytext. This timely and important book offers key insights into: * Determining the real value of a product or service * Transformity, or the relationship between emergy (input) andenergy (output) * Stored wealth, available energy, and the final product * Balancing economic and environmental needsEnvironmental Accounting: Emergy and Environmental Decision Makingwill help economists, ecologists, policymakers, and planners makemore responsible, informed decisions to sustain economic andenvironmental development.

The Response


James Goldsmith - 1995
    

Why Firms Succeed


John Kay - 1995
    The Financial Times hailed it as a powerfully argued book, which casts a fresh light on a range of practical business challenges. And Business Age wrote, You must read John Kay's new book Foundations of Corporate Success. Kay is currently the best management theorist in Britain, bar none.... He is a rare find.Now John Kay has produced an American edition of this landmark book. In this freshly revised volume, Kay applies his groundbreaking theories to the U.S. experience, illustrating them with examples of success and failure in the American market. For too long, he writes, managers have chased after the latest fad in business planning and strategy, beguiled by military analogies and the demand for overarching vision. Success, he believes, should not be measured by organizational size or market share, but by the added value--the amount that output exceeds the input of raw materials, payroll, and capital. Corporate strategy should be aimed at this basic goal, beginning with the question, How can we be different? Kay identifies four key ingredients: innovation, reputation (especially in the form of brands), strategic assets (government mandated monopolies or other measures which restrict market access by competitors), and architecture (the relationships between a company and its employees, suppliers, and customers). Success comes not when managers drive through a towering vision of the company's destiny, but when they act on their organization's specific capabilities and advantages--especially in the key area of architecture. Honda, he notes, captured a third of the American motorcycle market within five years. No vision was required for this success, he writes: Honda simply did what it did best (making a simple, inexpensive product), followed by careful attention to the architecture of its business ties to distributors, customers, etc. He ranges through industries from airlines to retail clothing, pointing out the reasons for successes and failures. Kay also draws on game theory to underscore the importance of stable, long-term relationships.Other writers have hit upon some of these points, the Financial Times noted: But none has explored them as thoroughly as Kay, who succeeds in marrying an authoritative grasp of economic, legal, and sociological theory with an impressively detailed knowledge of contemporary business practice. This volume transforms Kay's theoretical and practical knowledge into a powerful tool for today's American business manager.

Beyond Individualism


Michael J. Piore - 1995
    This book takes up the urgent question of how, in a time of economic crisis and constraint, we can meet the pent-up demand for spending on our nation's neglected poor, infirm, and disadvantaged, old and young. Michael Piore's ambitious response is to develop a new social theory that balances individual preferences against the claims and responsibilities of the community. By explaining the role of groups in economic and social life, this theory makes sense of a host of perplexing social phenomena and policy issues, from equal employment opportunity to international competitiveness to the decline of organized labor, from multicultural education to health insurance to the underclass.Piore traces our difficulties in addressing these issues to the limits of liberal social theory, particularly its sharp distinctions between individuality and community. He offers an alternative view of individuality as emerging through the discussions and debates conducted among a community's members. These discussions, Piore suggests, have turned inward, away from the borderlands where social groups and economic organizations meet--and therein lies the crux of some of the country's deepest political and economic problems. His book points beyond the liberal conception of politics as a negotiation among competing interests and of policymaking as technical decisionmaking. Instead, it prescribes a politics focused on the process of discussion and debate itself, a politics that enlarges the borderlands by broadening the range of people who talk to one another and the range of topics they address.

The Oxford Book Of Money


Kevin Jackson - 1995
    Rhino. The long green. It is the most important thing in the world (George Bernard Shaw). It is the alienated essence of man's work and existence (Karl Marx). It is a medium of exchange, a measure of value, a standard of deferred payment. It is better than poverty, if only for financial reasons (Woody Allen). Few things occupy as central a place in our lives as money, and few provoke such intense and varied response. Now in an entertaining and thought-provoking book, Kevin Jackson brings together reflections on money by some of the most brilliant minds who ever lived, drawing on such writers as Dante and Chaucer, Dostoevsky and Dickens, Mark Twain and Jane Austen, and such thinkers as Adam Smith, Karl Marx, and John Maynard Keynes. Here is an all-encompassing look at the bottom line of human life--wealth and poverty, lending and borrowing, money heavens and money hells. By looking at money from many different perspectives, whether through colorful scenes from fiction or telling portraits of eras past, The Oxford Book of Money offers us a deeper appreciation of what money is, what it can do, what it is really worth. By turns insightful, amusing, and intriguing, it will help readers to reexamine what money means to them and rethink its value in their lives.

Frontiers of Business Cycle Research


Thomas F. Cooley - 1995
    This theory starts with the view that growth and fluctuations are not distinct phenomena to be studied separately--and that business cycles result from shocks (such as the availability of new technologies), which regularly affect most economies. The unifying theme of this book is the use of the neoclassical growth framework to study the economic fluctuations associated with the business cycle. Presenting recent advances in dynamic economic theory and computational methods--with emphasis on the construction of equilibrium paths for simple artificial economies--leading experts orient readers in the quantitative study of aggregate fluctuations and apply its concepts to key issues in macroeconomics and business cycle theory.This volume covers such issues as the aggregate labor market, the role of the household sector, the role of money, the behavior of asset markets, non-Walrasian economies, monopolistically competitive economies, international business cycles, and the design of economic policies. The contributors are David Backus, V. V. Chari, Lawrence Christiano, Thomas F. Cooley, Jean-Pierre Danthine, John Donaldson, Jeremy Greenwood, Gary D. Hansen, Patrick Kehoe, Finn Kydland, Edward C. Prescott, Richard Rogerson, Julio Rotemberg, Geert Rouwenhorst, José-Víctor Ríos-Rull, Michael Woodford, and Randall Wright.--front flap

Liberty and the Great Libertarians: An Anthology on Liberty, a Hand-Book of Freedom


Charles T. Sprading - 1995
    They cover a wide range of issues from art, education and marriage to money, slavery, taxes, war and equal rights for women. The new edition features Karl Watner's foreword which provides valuable historical perspective. The selections are a roll call of 43 important libertarians from the past two centuries, mostly English and American, including Edmund Burke (before the French Revolution), Ralph Waldo Emerson, William Lloyd Garrison, William Godwin, Emma Goldman, Auberon Herbert, Wilhelm von Humboldt, Henrik Ibsen, Thomas Jefferson, Pierre A. Kropotkin, John Stuart Mill, Maria Montessori, Thomas Paine, Wendell Phillips, Herbert Spencer, Lysander Spooner, Max Stirner, Henry D. Thoreau, Leo N. Tolstoy, Benjamin R. Tucker and Josiah Warren. There are also worthwhile selections from authors like Abraham Lincoln and George Bernard Shaw who turned against liberty generally. Each selection is accompanied by a fine summary of the author's life and achievements. In addition, the book offers inspiring poems as well as quotations on liberty by many more authors. Gems aplenty.

Transaction Cost Economics


Oliver E. Williamson - 1995
    Since then, numerous theoretical developments and empirical applications have expanded and enriched the field. Recognition of its contributions to our understanding of organizations and institutions includes two Nobel laureates, Ronald Coase in 1991 and Oliver Williamson in 2009. This is an important selection of key articles on transaction cost economics by distinguished scholars including Ronald Coase, Herbert Simon, Kenneth Arrow and Richard A. Posner. This research review addresses key areas such as private ordering and credibility, contracts and organization, internal organization, vertical integration and contracting.

How to Survive in the Real World: Financial Independence for the Recent Graduate


James Lowell - 1995
    It provides the concrete financial advice all grads need to succeed as they begin their independent lives. Incorporating self-tests, checklists, worksheets, statistics, and sources for further information, this essential, user-friendly guide presents a broad range of down-to-earth money-managing strategies, including: creating a realistic budget that leaves room for fun and freedom paying off student loans and saving hundreds of dollars while doing so developing a solid credit history and avoiding revolving debt buying or leasing a car developing good savings and investing skills getting the right kind of health and car insurance preparing tax returns finding cost-effective ways to travel increasing your income and much more!

In Public Houses: Drink and the Revolution of Authority in Colonial Massachusetts


David W. Conroy - 1995
    Concentrating on the Boston area, he reveals a popular culture at odds with Puritan social ideals, one that contributed to the transformation of Massachusetts into a republican society. Public houses were an integral part of colonial community life and hosted a variety of official functions, including meetings of the courts. They also filled a special economic niche for women and the poor, many of whom turned to tavern-keeping to earn a living. But taverns were also the subject of much critical commentary by the clergy and increasingly restrictive regulations. Conroy argues that these regulations were not only aimed at curbing the spiritual corruption associated with public houses but also at restricting the popular culture that had begun to undermine the colony's social and political hierarchy. Specifically, Conroy illuminates the role played by public houses as a forum for the development of a vocal republican citizenry, and he highlights the connections between the vibrant oral culture of taverns and the expanding print culture of newspapers and political pamphlets in the eighteenth century.

Grain Markets in Europe, 1500 1900: Integration and Deregulation


Karl Gunnar Persson - 1995
    Grain Markets in Europe traces the markets' early regulation, their poor performance and the frequent market failures. Price volatility caused by harvest shocks was of major concern for central and local government because of the unrest it caused. Persson uses insights from development economics, explores contemporary economic thought on the advantages of free trade, and measures the extent of market integration using the latest econometric methods.

Explaining Social Institutions


Jack Knight - 1995
    This emphasis on influence has provided students of economics, political science, and political economy with surprisingly little theory to account for the origins of such institutions. Yet without understanding how institutions form and consequently develop influence, much of the other work lacks context. The contributors fill this void by utilizing a variety of perspectives and theoretical approaches. The twin focus of these articles on the origins of institutions and the development of institutional influence yield innovative and suggestive outcomes. Topics range from the framing of the United States Constitution to debate over the Senate at the Federal Convention; from equilibrium and social institutions to democratic stability.Contributors include Randall Calvert, Jon Elster, Avner Greif, Jack Knight, Paul Milgrom, Douglass North, William Riker, Norman Schofield, Itai Sened, and Barry Weingast.Jack Knight is Assistant Professor of Political Science, Washington University, St. Louis. Itai Sened is Assistant Professor of Political Science, Tel Aviv University.

Women and the New World Economy: Feminist Perspectives on Alternative Economic Frameworks


Gita Sen - 1995
    She is critical, not only of the specific policy prescriptions but of the whole economic paradigm which the World Bank, IMF and associated institutions put forward. She presents alternative approaches - including human development and ecological economics - which are emerging and, in an attempt at paradigm shift, incorporates their best elements from a feminist perspective. This recognizes how the emerging global vision of labour is transforming not only production, but also reproduction, and argues that women need to adopt a three-pronged strategy of challenging the market, transforming the state and building a genuine civil society.

Communist Logistics in the Korean War


Charles R. Shrader - 1995
    The author examines the performance of the Communist logistical system from June 1950 to July 1953, explaining the failure of the United Nations air interdiction campaign in terms of the constant improvement of Communist logistical capabilities. The author concludes that the United Nations air force damaged, but was unable to destroy, the Communist distribution system. The North Koreans and Chinese Communists were able to supply their front line units sufficiently to enable them to conduct a strong static defense, which prevented a United Nations victory, and in the last months of the war, to mount strong, sustained offensive actions.

Fundamental Determinants of Exchange Rates


Jerome L. Stein - 1995
    It provides an elegant model based on a solid theoretical foundation that links real exchange rates to their fundamental economic determinants and takes proper account of stock and flow considerations. The authors provide a masterful account of how changes in productivity and thrift affect the real exchange rate, and show that the long-run impact depends crucially on whether the change reflects the former fundamental (investment) or the latter (consumption). The empirical implementation uses state-of-the-art cointegration and error correction methodologies that are eminently well suited to capture the short-run adjustment of the real exchange rate to its medium- to long-run equilibrium value. The empirical results are extremely encouraging, as the economic fundamentals identified by the authors can explain a substantial part of the movement in the real exchange rate of a number of countries.--Peter Clark, International Monetary Fund

Manipulation on Trial


Jeffrey C. Williams - 1995
    In this book Jeffrey Williams, who was an expert witness in the actual trial, focuses on the economic analysis used at the trial, the relationship of that analysis to the attorneys' arguments, and its effectiveness before the jury. Manipulation on Trial draws broadly applicable lessons from this important case. Through a series of essays, it investigates the elusive definition of manipulation, the difficulties of interpreting statistical evidence, the imprecision in calculating damages, and the hazards introduced when economic analysis enters complex litigation.

Seeking Fair Treatment: From The Aids Epidemic To National Health Care Reform


Norman Daniels - 1995
    There has been little discussion of whether health care reform would improve the lives of HIV patients, largely, many would say, because so many of those affected byHIV belong to groups that are traditionally discriminated against--gays, drug abusers, members of minority groups, and a rapidly growing number of women and children--tempting policymakers and the public alike to think in terms of us and them. To continue to yield to this temptation would be a grave mistake, Norman Daniels argues in his new book Seeking Fair Treatment: From the AIDS Epidemic to National Health Care Reform. Expertly guiding readers through the complex maze of conflicting claims made by insurers, activists, and the medicalcommunity, he shows that AIDS activists' long fight for better treatment and access to care is not the fight of a desparate and isolated group, but a fight for exactly the things all of us need in our national health care system. Daniels maintains that since the early 1980s, HIV and AIDS patientshave served as canaries in the coalmine, exposing weaknesses in the health care system that affect many health care consumers, including cancer patients, the elderly, and those with a pre-existing or chronic condition. For example, HIV patients have frequently lost their health insurance coveragejust when they needed it most, but so too have far too many cancer patients. HIV patients are increasingly locked in to jobs because they fear losing insurance if they change employment; so too are diabetics. With precision and insight, Daniels probes the issues of justice that underlie centralcontroversies about how we should treat each other in the HIV epidemic, controversies that are intrinsically linked to the problems of designing a better national health care system. These include the duty of physicians to treat HIV patients; the conflicting rights of patients and infected healthcare workers; the insurability of those at high risk; the rights of patients to unproven drugs; the rationing of expensive treatments; and educating students about safe sex practices in our public schools. Seeking Fair Treatment makes a major contribution to the health care debate. Arguing passionately that access to health care is not merely a goal for a just society, it is a requirement, Norman Daniels provides an equitable and efficient framework for coming to terms with one of the great moralcrises of our time.

Leading Sectors and World Powers: The Coevolution of Global Economics and Politics


George Modelski - 1995
    In Leading Sectors and World Powers, George Modelski and William R. Thompson venture beyond previous attempts to understand this supposition by establishing an explicit connection between war, economic innovation, and world leadership. They argue that surges in economic creativity, which in turn are tied to global war, determine leadership in the global system.Contending that K-waves (processes delineating the wax and wane of industrial sectors) appear in paired sets correlated to long-cycle shifts (phases of world order punctuated by intensive bouts of global war), Modelski and Thompson construct a linked sequence of political-economic leadership extending from tenth-century China to the contemporary United States.

Monitoring the World Economy 1820-1992


Angus Maddison - 1995
    This work provides an analysis of these phenomena on a worldwide basis for the period since 1820. It provides the most comprehensive database available for comparative, quantitative interpretation of the causal influences which have been operative in different phases of development and includes extensive commentary on the analytical tools developed by economists in their attempt to explain variations in rates of growth and levels of income. This book is a sequel to the author's earlier book, The World Economy in the 20th Century.